摘要
保险公司通过发行次级债,一方面可有效提升其偿付能力充足率,增强投资能力。另一方面,作为一条收益率较高的投资渠道,保险公司通过购买其他公司发行的次级债,可以提高投资收益率。本文通过数学建模,考虑次级债的风险情况,并基于研究结果指出目前保险公司次级债监管存在的不足,并给出了相关监管建议。
Insurance companies can boost their solvency adequacy through issuing subordinate debts and enhance their investment capability. Moreover, being a investment vehicle with relatively high returns, insurance companies can improve their yields by investment into subordinate debts issued by other insurers. The paper evaluated the risk profile of subordinate debts through a mathematical modeling, and pointed out as a conclusion that regulation on in- surers＇ subordinate debts was inadequate. It therefore offered some suggestions for strengthening its regulation.
出处
《保险研究》
北大核心
2011年第1期61-69,共9页
Insurance Studies
基金
中央财经大学"211工程"三期建设项目资助
关键词
次级债
风险对冲
偿付能力
subordinate debt
risk hedging
solvency adequacy
